I'll be scouring the charts for "actionable masterpieces". These will be signficant chart patterns or set-ups that I feel are not only tradeable, but also have a high probability of making big profits with little risk. Whenever I spot an "actionable masterpiece", I will post an annotated chart (my chart art) along with an explanation. My goal is to help you learn how to spot these low ocurring but highly profitable "actionable masterpieces" yourself.
Buy EUR/CHF
There is bullish divergence here with price making a lower low while the oscillator does not. Stochastic is also "turning over" ...possibly a sign of reversal back up to the ascending channel??
On the 4-hour chart, an excellent example of hidden bullish divergence working out. Price had made a lower low, while the oscillator made a higher low, and soon after price reverses!
Price has climbed back over minor resistance at 1.6425. I look for price to retest this resistance-turned-support area again and then rally up to support-turned-resistance area or 1.6535.
I'm going to buy at 1.6425. My stop loss (SL) will be 1.6385. My profit target (PT) will be 1.6535.
Buy EUR/CHF @ 1.6425 | SL: 1.6385 | PT: 1.6535
I will post any trade adjustments under the Comments section below.
